OPENDOOR SHUTS INDIA OPS, CUTS 250 JOBS FOR AI TEAMS
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Opendoor is closing its India operations and laying off nearly 250 employees as part of a shift toward AI-enabled teams in the US. The real estate tech company will consolidate operations domestically with smaller, automation-focused groups.
■ MORE FROM THE STARTUPS DESK
French AI startup Mistral AI is negotiating a €3 billion funding round at a €20 billion valuation, bolstering Europe's position in the intensifying AI competition against US and Chinese rivals.
A startup founded by a former investment banker has launched one of India's first domestically developed video AI platforms, challenging the dominance of US and Chinese competitors in the market.
Canadian challenger bank Koho closed a Series E funding round of CA$130 million, valuing the fintech at CA$1.33 billion. The raise marks a 66% increase from its CA$800 million valuation in 2023, as the company approaches obtaining a full Canadian banking license.
Montreal-based fintech startup Nesto secured CA$302M in Series E funding at a CA$1.47B valuation. The capital will fund deployment of its AI-powered lending platform to streamline mortgage approvals.